Company name
Salaverry Terminal Internacional, S.A. (“STI”)
Project number
12828-01
Category B projects have potential environmental and/or social impacts and risks that are less adverse than those of a Category A and which are generally limited to the project site, largely reversible and can be mitigated via measures that are readily available and feasible to implement in the context of the operation.
E&S category
B
Country
Peru
Sector
Transport
Status
Inactive
Disclosed date
09/24/2019
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
02/25/2020
Approval date
N/A
Signed date
N/A
Sponsoring entity
Trabajos Marítimos, S.A. (“TRAMARSA”)
Investment Operations Department Contact
Portfolio Management Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The Project consists of the design, financing, construction, and operation of the Port of Salaverry in Trujillo, Peru. The Port has been in operation since the 1960s and is the natural import/export terminal of the city of Trujillo (the third largest in Peru, with a population of 1 million) and the nearby agribusiness and mining regions. In October 2018, a concession through an international tender was granted to TRAMARSA, by means of which it assumes responsibility for the extension of the facilities and the operation and maintenance (O&M) of the Port for 30 years. Salaverry is a multipurpose terminal. It moves various types of cargo, such as wheat, corn, sugar, fertilizers, mining concentrates, and others. It is mainly an import terminal, but has the potential to expand exports significantly, mainly due to recent and important agribusiness developments in the Port's area of influence.
The concession requires implementing investments in six phases. Phases 1 and 2 are mandatory and are not subject to capacity utilization, while the others will be triggered when the terminal reaches certain volume thresholds. The proposed financing is for Phases 1 and 2, and for the early implementation of some of the functional components of Stages 3 and 4 that provide operational flexibility to the Port (thus improving its competitiveness).
The Port will charge fees for standard services (ship, cargo, and passenger services, etc.). The concession contract sets the maximum regulated fees that may be charged by the Concessionaire. Fees will be reviewed every 5 years from the start of operations of Phases 1 and 2, based on inflation minus the increase in the productivity factor. This follows the general concession regime for private ports in Peru, of which TRAMARSA is the largest local operator, with two other port concessions in operation. The credit transaction consists of an 8-year short-term loan, with an underlying instrument of up to 18 years.
The Project’s area of influence includes four regions (Ancash, La Libertad, Lambayeque, and Cajamarca) that represent more than 12% of Peru's national GDP. Upon completion of the Project, the Port of Salaverry will be able to receive larger vessels and offer a more comprehensive set of services, which will ultimately strengthen global competitiveness in the region. The 2.5 million metric tons per year that the Port currently manages is expected to double at the end of the life cycle of the concession. In addition, technological improvements are expected to increase the efficiency of the Port, reducing logistics costs for the benefit of the region’s exporters and importers.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
jpflucker@sati.com.pe
PHONE NUMBER
(+51) 996863916
POST OFFICE ADDRESS
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesFor inquiries, comments and information requests about the project
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Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
ENVIRONMENTAL AND SOCIAL REVIEW
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